Indo Borax & Chemicals Ltd

Indo Borax & Chemicals Ltd

₹ 162 4.35%
28 Mar 4:01 p.m.
About

Indo Borax & Chemicals Ltd. was incorporated in the year 1980 in Asangaon and its first Boric Acid plant was established in the year 1981, followed by the establishment of a Borax plant in 1983. The company was listed in 1993. Today, Indo Borax operates a Boric Acid and Borax plant at Pithampur. The company is engaged in the manufacturing of Boron products and Lithium Hydroxide. [1]

Key Points

Product Portfolio
The Company is engaged in the manufacturing and selling of chemicals. Its product portfolio includes Boron and Lithium products which include Boric Acid Technical Grade Powder & Granular, Boric Acid IP Grade (Indian Pharmacopoeia Grade) Powder & Granular, and Lithium Hydroxide Monohydrate [1]

  • Market Cap 520 Cr.
  • Current Price 162
  • High / Low 238 / 99.2
  • Stock P/E 12.9
  • Book Value 84.8
  • Dividend Yield 0.61 %
  • ROCE 28.7 %
  • ROE 21.0 %
  • Face Value 1.00

Pros

  • Company is almost debt free.
  • Company has delivered good profit growth of 29.7% CAGR over last 5 years

Cons

  • Promoter holding has decreased over last 3 years: -3.35%

* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.

Peer comparison

Sector: Chemicals Industry: Chemicals

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Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

Dec 2020 Mar 2021 Jun 2021 Sep 2021 Dec 2021 Mar 2022 Jun 2022 Sep 2022 Dec 2022 Mar 2023 Jun 2023 Sep 2023 Dec 2023
46.64 47.53 43.84 38.16 44.88 48.83 52.52 61.25 55.36 55.94 54.98 46.80 44.06
33.59 30.85 30.83 27.76 33.87 35.46 37.58 47.52 37.49 40.54 43.15 36.64 34.88
Operating Profit 13.05 16.68 13.01 10.40 11.01 13.37 14.94 13.73 17.87 15.40 11.83 10.16 9.18
OPM % 27.98% 35.09% 29.68% 27.25% 24.53% 27.38% 28.45% 22.42% 32.28% 27.53% 21.52% 21.71% 20.84%
0.95 0.52 0.61 0.50 1.30 0.82 2.26 1.98 2.03 2.39 2.98 2.69 2.74
Interest 0.00 0.02 0.00 0.00 0.00 0.00 0.00 0.00 0.09 0.00 0.00 0.00 0.00
Depreciation 0.27 0.27 0.26 0.26 0.26 0.26 0.24 0.25 0.46 0.61 0.56 0.57 0.57
Profit before tax 13.73 16.91 13.36 10.64 12.05 13.93 16.96 15.46 19.35 17.18 14.25 12.28 11.35
Tax % 26.88% 25.43% 26.35% 26.79% 31.70% 24.62% 24.17% 25.68% 29.20% 26.43% 27.23% 27.36% 27.49%
10.04 12.61 9.85 7.79 8.23 10.51 12.86 11.49 13.70 12.65 10.38 8.93 8.23
EPS in Rs 3.13 3.93 3.07 2.43 2.56 3.28 4.01 3.58 4.27 3.94 3.23 2.78 2.56
Raw PDF

Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 TTM
46 66 77 87 70 67 101 128 115 144 176 225 202
37 49 62 69 57 56 83 108 97 100 128 163 155
Operating Profit 9 17 15 19 12 10 18 20 19 44 48 62 47
OPM % 20% 26% 19% 21% 18% 15% 17% 16% 16% 31% 27% 28% 23%
2 2 2 3 3 3 4 6 5 4 3 9 11
Interest 0 1 1 1 0 0 0 0 0 0 0 0 0
Depreciation 0 1 1 1 1 1 1 1 1 1 1 2 2
Profit before tax 11 17 16 20 14 12 20 24 22 47 50 69 55
Tax % 32% 34% 33% 32% 32% 31% 34% 28% 24% 26% 27% 26%
7 11 10 14 9 8 13 18 17 34 36 51 40
EPS in Rs 2.08 3.28 2.91 4.08 2.88 2.49 4.17 5.46 5.28 10.67 11.33 15.80 12.51
Dividend Payout % 7% 5% 5% 4% 5% 6% 4% 3% 4% 9% 1% 1%
Compounded Sales Growth
10 Years: 13%
5 Years: 17%
3 Years: 25%
TTM: -7%
Compounded Profit Growth
10 Years: 15%
5 Years: 30%
3 Years: 44%
TTM: -15%
Stock Price CAGR
10 Years: 29%
5 Years: 30%
3 Years: 37%
1 Year: 55%
Return on Equity
10 Years: 17%
5 Years: 19%
3 Years: 21%
Last Year: 21%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Sep 2023
Equity Capital 3 3 3 3 3 3 3 3 3 3 3 3 3
Reserves 46 56 64 75 84 91 101 118 135 170 204 252 269
5 7 4 5 2 1 0 0 0 0 0 0 0
6 13 8 9 8 10 12 11 10 17 14 20 16
Total Liabilities 60 79 80 92 97 106 117 132 149 190 222 275 288
3 3 3 11 21 52 51 50 46 89 91 96 95
CWIP 0 0 1 2 2 1 1 1 1 1 1 1 4
Investments 21 22 35 14 32 23 20 37 18 30 4 9 27
36 54 42 65 43 29 45 44 84 70 126 169 162
Total Assets 60 79 80 92 97 106 117 132 149 190 222 275 288

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023
4 1 18 0 18 21 1 15 13 16 11 60
-10 -2 -11 13 -26 -24 5 -16 26 -54 26 -8
2 1 -5 -1 -4 -1 -2 -1 -1 -1 -3 -3
Net Cash Flow -5 1 3 12 -12 -4 5 -2 38 -39 34 49

Ratios

Consolidated Figures in Rs. Crores / View Standalone

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023
Debtor Days 22 17 17 25 30 28 32 27 26 22 21 21
Inventory Days 342 400 220 252 221 70 59 53 56 176 309 195
Days Payable 40 47 31 35 39 35 19 9 15 31 23 12
Cash Conversion Cycle 324 370 206 242 211 63 72 71 66 166 307 204
Working Capital Days 148 142 103 139 120 46 74 66 40 81 143 96
ROCE % 22% 30% 23% 26% 16% 13% 20% 21% 17% 30% 26% 29%

Shareholding Pattern

Numbers in percentages

14 Recently
Mar 2021Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023
55.42% 55.42% 55.42% 55.42% 55.42% 54.19% 53.78% 53.78% 53.00% 52.07% 52.07% 52.07%
0.00% 0.00% 0.00% 0.04% 0.04% 0.06% 0.09% 0.11% 0.06% 0.22% 0.01% 0.03%
44.58% 44.58% 44.58% 44.54% 44.54% 45.76% 46.12% 46.10% 46.94% 47.71% 47.90% 47.89%
No. of Shareholders 5,6819,43415,41720,33820,25821,00521,68720,74121,06822,91927,02927,863

* The classifications might have changed from Sep'2022 onwards. The new XBRL format added more details from Sep'22 onwards.

Classifications such as banks and foreign portfolio investors were not available earlier. The sudden changes in FII or DII can be because of these changes.

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